Many carriers won't take new business on a risk that has a water claim within 2-3 years.

@Anthony Zotto I hope you purchased a good deal because it's time to go to work and establish a new order. 

They have a vested interest into keeping everyone happy because it is way easier to keep a client then to go find a new one. 

Although I know most sec 8 landlords use it because of the perception of guaranteed rents.As a small home builder I really dont know how they are going to lower the cost of new construction housing unless the govmit subsidizes it somehow.. basically the price of home components are very sticky they only go up. with the xception of lumber that will go  up and down through out the year..

This year’s most popular areas are known for being fast-growing cities with plenty of new development, with healthy job growth in Florida and Texas in particular.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

Are there any common mistakes new investors make when working with brokers, lenders, or contractors?

You can DM me her contact info.Kevin, I noticed you are based in New York.

End result here is that whether or not the new property was eligible for a 1031 exchange you were investing inside a qualified retirement account. 

Would you recommend this strategy to a new investor like myself?